Leverage & Options
Paul Pierce, who made $200 million in NBA, says he’s broke. He pays $28k per month in child support and $20k per month in spousal support. In latest court case, the court made him pay his ex $100k for her legal fees when she asked for forensic accountant to review his finances.
https://www.tmz.com/2026/10/27/paul-pierce-claims-he-is-financially-struggling/
History rarely moves in straight lines, but the effects of certain technologies have repeating patterns. They don’t just improve an existing process; they unlock entirely new scales of production, rearrange labor markets, and accelerate economic forces that were already gathering strength in the background. I'm going to show you three inventions, separated by more than two centuries, and see if you get the picture.
1793: Eli Whitney and the Cotton Gin
In 1793, Eli Whitney invented the cotton gin, a simple machine that separated the sticky seeds from cotton fibers. Before it, cleaning a single pound of lint by hand required hours of painstaking work. A hand-powered gin could produce roughly fifty pounds of clean cotton in a day, a leap of 50X in labor productivity.
Whitney actually hoped the invention might reduce the need for slave labor. The opposite happened. By making short-staple cotton economically viable, the gin transformed cotton into a massive cash crop. U.S. cotton production, which stood at only a few thousand bales...
